Intermodal shipments grew 4.7% in the third quarter as companies stepped up imports ahead of promised U.S. tariffs on foreign goods and domestic shippers shifted from highway to rail in response to rising freight rates and constraints on truck capacity.
International volume increased 4.4% to 2.5 million containers in the three months ended Sept. 30, domestic containers grew 3.9% to 2 million and truck trailers increased 12.1% to 359,850 over the same time period a year ago, based on data collected by the Intermodal Association of North America.
“We saw some trail-off in growth during the third quarter, relative to the first half of the year,” said Joni Casey, president and CEO of Calverton, Md.-based IANA, “but intermodal’s market expansion was still respectable.”
Casey, as well as other industry officials, expect growth to continue into the fourth quarter in what has already been a banner year for global trade.
IANA put intermodal growth in the fourth quarter in the range of 2% to 3% and full-year growth between 5% and 6%.